Cryptocurrency exchange Coinbase has registered 114,850,769 shares of class A common stock for a direct listing on the Nasdaq stock exchange, as per an amended S-1 filing with the U.S Securities and Exchange Commission.
Coinbase announced its intention to launch an initial public offering back in December 2020 when it first filed registration forms with the SEC. By early March, the pre-market private trading price of the shares had risen as high as $375, giving the company an estimated pre-IPO valuation of around $100 billion at the time.